Business Irish

Saturday 23 August 2014

Debt deal boosts Kenmare shares

Published 15/02/2014 | 02:30

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KENMARE Resources' share price jumped yesterday as the company announced it had rescheduled some of its debts. The African-focused, Irish-owned mining company has renegotiated repayment terms on $143m (€105m) of deferred subordinated debt. Interest and capital on this debt was due to become payable on August 15, 2015. But the company has secured a deal with its lenders to extend the repayment schedule on the subordinated debt, which should total about $160m by next August. The share price closed up 6pc at 21c.

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